Israel holds policy rate

Move comes despite higher inflation expectations

Israel-Palestine on map

The Bank of Israel held its policy rate on May 27, although inflation rose in April and the central bank forecast inflationary pressures would grow.

The monetary policy committee (MPC) decided to keep the interest rate unchanged at 4.5%, though inflation reached 2.8% year on year in April from 2.7% in the previous month. Year-on-year inflation dropped was 2.5% in February, down from 2.6% in January.

The central bank said economic activity and the labour market have improved recently. But it said

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